The broader cryptocurrency market has seen recovering from recent losses. Bitcoin and Ethereum are showing signs of a rebound while Cardano price is still consolidating within $2.5.
Meanwhile, popular altcoins also show signs of recovery with SOL, AVAX, FTX, DOT, and LINK trading positive.
Popular trader and youtube influencer Aaron Arnold has featured top altcoins in his recent video that are poised to go insane with the crypto market recovering.
The First crypto in this checklist is the decentralized oracle Chainlink. LINK Price is currently trading at $23.07 after it plunged by 5.5% over the last 24 hours. The immediate support line is at $22.5. The altcoin price was seen below the four-hour 20-SMA, indicating that price momentum belonged to the sellers.
If the market recovers, the LINK price may test the first major resistance at $27.78.
As per the analyst
LINK looks like it’s gearing up for a breakout. So Chainlink, yeah, I happen to be bullish as long as we’re in a bull cycle.”
The Second altcoin is Polkadot (DOT). Over the past 24 hours, the DOT price has fluctuated in the range of $26 and $29.91, indicating a moderate amount of movement over that duration at the time of writing DOT price is trading at $29.
Polkadot’s price is under considerable threat below $27. Bulls may find some support between the high volume node at $23.30. If the price holds above $30 level LINK price may hit $35 and extend the bullish trend may take the coin to $40.
The crypto strategist believes that the interoperable blockchain will follow the footsteps of explosive altcoin Solana (SOL).
As per analyst
Getting some major Solana vibes from DOT. It’s been rejected a few more times, but I think the trajectory (weekly candle close), relation to the previous all-time high, and the fact that it hasn’t really pumped this entire run. I’m hoping it can shine like SOL in the next couple of weeks.
EGLD Price :
At Present, EGLD Price is trading at $214.26. EGLD is recovering quickly from the recent correction. Based on the pivot level, the first support zone is 170 USDT. From another perspective, if it rushes, the resistance level to watch is 250 USDT.
The analyst High highlights that the internet-scale blockchain recently printed a golden cross. EGLD reached a new all-time high in 62 days. Analyst predicts EGLD Price reaching as high as $2,500 on October 18th.
AVAX Price :
On September 18th, the new all-time high of $75 was finally achieved. This price change was followed by a minor retracement late yesterday. At the time of writing, AVAX price is trading at $62.69.
According to crypto traders, the Avalanche platform is gaining momentum as more users flock to the smart contract platform.
“We saw what happened with Solana and AVAX, in my opinion, is very similar to Solana. AVAX is generally gaining in network, popularity, and price action. What they’re doing seems to be attracting a lot of [users].”
Lex Moskovski, Chief Investment Officer at Moskovski Capital, recently pointed out how AVAX behaved like SOL.
DeFi projects analyst @gMAKcrypto expects AVAX to hit $100, arguing that SOL rallied higher despite being considered crowded.